• Orka Investments has acquired a 249-bed purpose-built student accommodation scheme in Liverpool city centre in a JV with a global institutional investor
• Delivered in 2025, the scheme is fully occupied for the 2026/27 academic year
• Liverpool becomes the fifth Russell Group city in Orka’s UK portfolio, and the fourth within the joint venture, alongside Birmingham, Glasgow and Exeter
• The acquisition takes Orka’s wider UK student housing platform, including assets held outside the joint venture, to 2,329 beds across seven schemes, having grown more than seven-fold over the past five years
• Investec Real Estate provided the acquisition financing for the transaction

Orka Investments, the London-based investment manager specialising in student accommodation and hotels, has completed the acquisition of Vista Square, a 249-bed PBSA scheme in Liverpool through its joint venture with a top five global real estate investor. The deal follows the purchase of Hill View Place in Exeter earlier this month and takes the joint venture’s portfolio to 1,761 beds across five schemes. Including assets held outside the joint venture, Orka’s wider UK student housing platform now totals 2,329 beds across seven schemes.

The joint venture targets income-producing schemes in Russell Group cities, bought below replacement cost, where targeted investment and active asset management can lift performance. Its strategy focuses on driving returns through operational improvements rather than relying solely on rental growth, which has returned to longer-term averages across the sector.

Orka works closely with a specialist operator on each scheme, taking an active role in leasing strategy, upgrading the amenity offering and diversifying income beyond the core academic year through semester lets, January intakes and summer stays.

Vista Square sits on Oldham Place, on the edge of Liverpool’s Knowledge Quarter and within walking distance of both the University of Liverpool and Liverpool John Moores University. The scheme comprises 204 self-contained studios and 45 en-suite rooms in five-bedroom cluster flats, with studios accounting for more than 80% of the units. Residents have access to a sky lounge, roof terrace, gym, sauna, cinema room, study hub and private dining room. The scheme is fully let for the 2026/27 academic year.

Liverpool has the UK’s tenth largest full-time student population, at around 55,800, and more than 26,000 of those students are unable to access a purpose-built bed, according to Savills. The city’s student population has grown by 28% over the past decade, while lettings platform UniHomes ranks Liverpool as the UK’s most competitive city for student housing in 2026/27.

Vista Square was part-funded through acquisition financing provided by Investec Real Estate. Investec recently financed Orka’s acquisition of Hill View Place in Exeter, reinforcing its ongoing relationship with Orka as the investment manager continues to expand its UK student accommodation platform.

Philippe de Croÿ-Solre, Vice President, Investments at Orka Investments, said:

“Liverpool has one of the deepest student markets in the country and students there have plenty of choice, so the gap between the best buildings and the rest keeps widening. Demand at the top of the market is moving towards newer schemes with proper amenity and good service, and towards studios in particular. Buildings that have not kept up will find it harder to let.”

“At the same time, construction costs and the new building safety regime are holding back development, so much of the next generation of quality student housing will come from upgrading existing schemes. That is where we see the joint venture’s next acquisitions – buildings from earlier development waves where the location is right but the product can benefit from targeted upgrades.”

Sebastian Walley, Investec Real Estate, said:

“Student accommodation financing opportunities remain attractive where a disciplined borrower is acquiring a high quality asset in a catchment with strong underlying student demand. Liverpool is an established university market, with two large universities, which makes Vista Square a compelling addition to Orka’s portfolio. We are pleased to continue supporting Orka and its joint venture partner as they grow their platform across leading UK university cities.”

Orka’s joint venture launched in December 2025 with three acquisitions totalling c.1,300 beds in Birmingham, Glasgow and Aberdeen. It now owns five schemes totalling more than 1,750 beds. The joint venture was advised by Simmons & Simmons (legal) and Colliers (technical and environmental due diligence). Cushman & Wakefield acted for the seller.

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